I am currently a Senior Finance Business Partner for the fleet and motor manufacturer sector of Business Services for RAC. I manage a team of 4 qualified staff and am responsible for the P&L performance of our existing customers in that sector as well as being the finance lead for new business and contract renewal. This encompasses pricing as well as being part of tender presentations and negotiations with new and existing customers.
I am also the Divisional Finance Lead for the Legal and Motor Claims division, responsible for budgeting, forecasting and reporting monthly performance. I work closely with the divisional MD on the performance of the business unit, new business opportunities and monthly reviews with the CEO and CFO.
Prior to this role I was Chief Accountant at Neovia Logistics LLC. Neovia is a $700m turnover US based logistics company, newly divested from Caterpillar Inc when I joined. Before joining Neovia I was in accountancy practice for 11 years with Ernst & Young, starting as a graduate trainee in audit and rising to a senior manager.
Finance Business Partner/Divisional Finance Lead @ Senior Finance Business Partner Business Services (August 14 – present)
I lead a team of 4 qualified staff for the RAC Business Services Division (Fleet and Motorman sector). This includes the P&L performance of all our Fleet and Motor Manufacturer customers, as well as new business opportunities.
I work extensively alongside our B2B Sales team, discussing strategic approach for individual new business/contract renewal tenders, pricing for individual deals and drawing out the value in the deals without harming our margins.
I have recently worked with the RAC Head of Operations to deliver an innovative new service at short notice to a global motor manufacturer that has helped meet the manufacturers’ requirements and fill our own budget target.
Divisional Finance Lead for Legal & Motor Claims Division (turnover £40m) (July 13 – present)
I attend monthly reviews with divisional MD, CEO and CFO to discuss monthly performance and outlook for the Motor Claims division. I am responsible for the annual budget, quarterly reforecasting and five year plan, as well as having ownership of the monthly P&L and Balance Sheet reporting for Legal & Motor Claims.
I led a detailed divisional cost review for the 2015 budget with the Operations Director and Divisional Managing Director, along with the CEO and CFO.
Following a change in ownership of RAC, I led a strategic review of the Legal & Motor Claims division, looking at return on investment metrics and profitability over the last 3 years and future growth opportunities with the Divisional MD and Operations Director.
I have worked with my finance team to institute a monthly review of performance by contract and have been working with financial analysts to improve the monthly balance sheet reconciliation process. From July 2013 to Present (2 years 6 months) Chief Accountant @ I worked as Chief Accountant with Neovia Logistics (formerly Caterpillar Logistics) from shortly after they divested from Caterpillar Inc until the central finance functions were moved to the US. I was asked by the CFO to move to the US as part of this but declined the offer.
Neovia Logistics is a PE backed global logistics group, with operations in 25 countries. I was responsible for the technical accounting for the group (including the purchase price allocation post acquisition), the consolidation of monthly results (43 company consolidation, with 30 trading companies, 29 of them in different currencies), the internal audit function and global fixed assets.
My main achievements were;
- Worked with external advisors on a short notice bond issue in February 2013. We had 2 weeks to prepare all the relevant documents, working with US based advisors whilst going through the year end audit simultaneously. Despite significant challenges, managed to meet the deadlines for a successful bond issuance.
- Identified a previously unrecognised $12m gain on foreign currency and designed solution to manage currency exposure.
- Worked with regional heads of finance (based in Belgium, USA and India) on accounting and financial control improvement.
- I managed a global, 43 company consolidation, with 30 trading entities and 29 using a foreign currency.
- Led purchase price allocation/fair value exercise, working with external valuers and auditors.
- Performed monthly P&L and balance sheet review with 30 overseas locations each month.
- Re-worked the consolidation to make it more efficient and to increase understanding of adjustments.
- Worked closely with external auditors on quarter end and year end audits
- Had weekly update calls with the CFO and Private Equity owners to assess global financial performance and to discuss current issues.
- Managed team of 7 people
- Part of a project team on SAP implementation
- Set up a new internal audit department From November 2012 to July 2013 (9 months) Leicester, United KingdomSenior Manager @ I joined Ernst & Young as a graduate trainee in February 2001 and worked my way up to be promoted to Senior Manager in October 2008. After 11 successful and highly enjoyable years I decided to leave the firm in November 2012.
I worked alongside senior management at each of my clients to challenge existing accounting and finance processes, as well as offering insight into best practice I had experienced elsewhere. As Senior Manager my main clients and achievements were;
Anixter Inc (SEC subsidiary , UK turnover of £500m) – Senior manager (2006 onwards)
- Managed a team of 20 directly (across 2 UK sites) and had 17 teams across 17 European countries reporting to me.
- Designed and led a cost reduction project to offshore a significant amount of shared service centre audit work, delivering significant savings for us and the client, without compromising on quality.
- Turned a poorly performing audit team into a ‘best in class’ team through continuous process improvement.
- SOX compliance, Group Reporting (US GAAP) and UK statutory accounts work-streams.
Norbert Dentressangle - (£500m turnover) – Senior manager (2008 - 2012)
- Complex project management of a client with diversified finance functions.
- Managed a team of 12 across 2 sites
- Maintained profitability despite a 20% drop in revenue and drove efficiency through the audit process.
Other audit career highlights/client
- Punch Taverns plc. Significant technical challenges on derivative accounting (IAS 39), goodwill impairment (IAS 36) and going concern considerations (cash flow, liquidity and debt covenants).
- Royal Mail plc, Letters division. Technical updates to senior Royal Mail management as well as significant technical issues. I received consistently high client satisfaction scores.
- 11 years experience of reviewing financial controls, identifying weaknesses and process improvements.
- Managed 8 qualified/unqualified staff (performance management of key/poor performers and career development) From October 2008 to November 2012 (4 years 2 months) Birmingham, United Kingdom
BA (Hons) Modern History & Politics @ The University of Sheffield From 1995 to 1998 Kevin McGuigan is skilled in: Auditing, US GAAP, IFRS, Accounting, Consolidation, Internal Audit, Financial Audits, Assurance, Internal Controls, Financial Accounting, Finance, Financial Reporting, UK GAAP, Big 4, External Audit